Securities regulators are investigating allegations Friedman Billings may have aided and abetted insider trading by some of the hedge funds that invested in the PIPE deal the firm arranged for Compudyne (CDCY).For Crestview, the deal with Friedman Billings is something of a coming out party. To date, the most notable transaction Crestview has been involved with was buying up some of the Puerto Rico-based cable assets of Adelphia, the bankrupt cable company. The private equity fund has maintained such a low profile that it doesn't even have its own Web site.
Friedman Billings Gets Private Equity Lifeline
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